“Competition is likely to heat up even more heading into the spring for house hunters looking for homes in the lower- and mid-market price range,” says Lawrence Yun, NAR’s chief economist.

Realtor.com® notes that the following markets are particularly very light on listings:

Chicago: -13% (active listings compared to a year ago)

Philadelphia: -14%

Washington: -15%

Seattle: -17%

Minneapolis: -18%

St. Louis: -12%

Baltimore: -16%

Cleveland: -18%

Orlando, Fla.: -19%

On the other hand, home shoppers may find more choices this year in a few select markets. Notably, Las Vegas is seeing an 18 percent increase in active listings compared to a year ago; Pittsburgh is seeing a 9 percent increase; and Houston and San Antonio are posting a 6 percent increase.